Beyond Meat: Secondary Shares Sold at Discounted Price

Beyond Meat announced yesterday that shareholders are offering secondary shares at a rate of $160 in order to pass profits to early investors and raise $40 million for expanded production. The rate represents a discount of 18.6% compared to the previous closing price.

Shareholders who bought a stake after Beyond’s 700% IPO gain are selling 3 million of the 3.25 million shares already sold, according to Bloomberg, amounting to proceeds of $480 million. The company has raised around $40 million from the deal, with the Bloomberg report stating that shares have since fallen by 6% in post-market trading.

The development allows shareholders including CEO Ethan Brown to take profits from the enormous success of the BYND stock, which was said to be the most successful stock market launch in two decades.

In the United States… … ten thousand business readers, just like you, rely on our reporting for their competitive edge in information they need to know about the markets and their competitors, the industry at large and emerging trends. Tens of thousands of readers more in Europe, Asia and in a total of 150 countries read vegconomist every month, the first and only global vegan business magazine. And unlike many other business magazines, we have chosen to make our content available to everyone, whether they are a CEO or a startup-owner. But we need your ongoing support to continue and expand our work. Every contribution, big or small, counts.